Revenue of 6.41 billion collected in first week of fiscal year

KATHMANDU, July 23: The government has collected a revenue of Rs 6 billion 416 million and 400 thousand in the first week of the fiscal year 2080/081. So far, 0.44 percent of the target revenue has been collected.

The government has set a target of collecting Rs 1 trillion 472 billion 484 million and 700 thousand for the current fiscal year through revenue, non-revenue and subsidies.

Among them, Rs 3 billion 910 million and 900 thousand revenue and Rs 3 billion 548 million and 800 thousand Customs revenue have been collected in the first week.

Similarly, non-revenue of Rs 362 million and 100 thousand were collected while Rs 2 billion 505 million and 500 thousand were collected under various headings according to the Financial Comptroller General's Office.

In the previous fiscal year, the budget was in deficit by nearly 400 billion as the target revenue could not be raised. Only around 1 trillion in revenue was collected compared to the target of more than 1.4 trillion in revenue.

Considering the shrinking resources, the government has reduced the budget for the current fiscal year 2080/81. The government has introduced an estimated budget of Rs 1 trillion 751 billion 310 million for this fiscal year.